Notcoin (NOT) has faced challenges in the past 24 hours as it struggles to break past the $0.0082 resistance level. Despite several attempts to climb higher, the price remains under pressure, with technical indicators signalling a bearish shift that could lead to a retest of lower support levels.
Stalling Price Action
At the start of the 24-hour trading session, Notcoin opened at $0.00793, only to surge slightly to its current price of $0.00818. While this marks a marginal 1.78% increase, the price’s inability to break through the $0.00840 resistance suggests that the bulls may be losing steam.
Notcoin is still trading above the critical 20, 50, and 100 EMAs, with the 20 EMA at $0.00818 providing immediate support. However, the flattening of these moving averages indicates that momentum is slowing down, making it harder for the price to rally without a significant influx of buying pressure. The 200 EMA at $0.00795 remains the strongest support level, but if bears take control, we could see a test of this zone.
Bearish Signals from ASO
One of the most concerning signals comes from the ASO indicator, which is showing a shift towards bearish momentum. The -DI line (red) is trending above the +DI line (blue), indicating that sellers have the upper hand. The ASO value itself is currently at 39.79, which reflects a reasonably strong trend, though the flattening curve suggests a period of indecision.
Traders should also note the wider gap between the +DI and -DI lines, which may be a precursor to further downside action. The slowing momentum can also be observed as the price has been trading sideways for most of the session.
Related Reading: 24-Hours Price Analysis: DOGS Show Sign of Recovery Surging by 6.45% After a Torrid Period – How Long Will This Uptrend Last?
Crucial Levels to Monitor
For the bulls, breaking through the $0.00840 resistance level is essential to regain market control and push towards the next key resistance at $0.00860. However, failure to do so could lead to a price decline, with immediate support found at $0.00803 and more substantial support at the 200 EMA level of $0.00795.
Should the price break below the $0.00795 level, it could trigger a broader sell-off, with the next major support target near $0.00760.
Conclusion
The short-term outlook for Notcoin is looking bearish. The price faces strong resistance at $0.00840, and the ASO signals growing selling pressure. Unless bulls can gather enough strength to break through the resistance, we may see a downward trend develop, potentially testing lower support levels at $0.00795. Traders should keep an eye on these critical levels for any signs of a reversal or breakdown in the price.
